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How are Car Insurance Quotes Calculated in Ontario

As per the province that you live in, there are various factors that affect Ontario car insurance premiums. Some of these factors are as below:

Apart from the above, government rules, taxes, healthcare costs, towing expenses, repair costs, and insurance fraud also influence insurance rates.

Average Car insurance Rates Across Ontario

The average cost of car insurance in Ontario is $104 per month. It’s $1,250 yearly.

CityAverage Car Insurance Rates in Ontario*
Clarington$895
Kanata$913
Kingston$914
Ottawa$958
Peterborough$977
Sarnia$987
North Bay$1,016
Sault Ste. Marie$1,016
Sudbury$1,016
Thunder Bay$1,016
Stratford$1,088
St. Catharine$1,094
Cambridge$1,118
Guelph$1,118
Burlington$1,136
Kitchener$1,139
Oakville$1,187
Brantford$1,198
Milton$1,202
Niagara Falls$1,229
Brock Township$1,238
Georgina$1,238
Caledon$1,286
Barrie$1,287
London$1,310
Aurora$1,334
Newmarket$1,334
Windsor$1,341
Oshawa$1,384
Hamilton$1,395
Ajax$1,399
Markham$1,551
Richmond Hill$1,551
Toronto$1,553
Pickering$1,558
Scarborough$1,712
Mississauga$1,792
Brampton$2,014

*Methodology: We used a sample profile for a male driver aged 30 years with his own vehicle having mandatory coverage. He drives a Honda Civic 2012 car. With an average mileage of 5000 – 8000 km per year to commute to work. He has a clean driving record history of 5 years with no accidents or collisions.

We surveyed the Ontario car insurance prices for the purpose of illustrating. The ranges in quotes based on driving record, location, and other criteria. To get a customized quote, enter your postal code above.

How Do I Use The Car Insurance Calculator

It is very easy to use the Ratelab car insurance calculator and just follow the below steps.

To begin the calculation, you may enter your postal code above and click on the compare for free quotes button.

Step 1: The next screen will ask you to enter your vehicle details very specifically. It may ask you if you lease your car, the main purpose, and annual mileage, if you use winter tires, and your car’s parking spot. On the bottom part of the same screen, you may choose your coverage level and deductibles. At this point, you may choose to add another vehicle and click on continue.

Auto Insurance Estimator Step 1

Step 2: The second screen will ask for the personal information of the driver such as age, gender, marital status, and occupation. Thereafter, you need to enter the license information, driving history, and current insurance. It may also ask for any gaps in coverage, the length of insurance, suspensions, accidents, or tickets. At the end of this screen, you may choose to add more drivers to the policy and click continue.

estimator step 2

Step 3: The third screen will determine your applicable discounts. It will let you enter any professional associations, bundling offers, roadside assistance membership, and if you want to use telematics. Then you may choose to get the best rate options free as an email once every 30/60/90 days. If you agree then you may enter your name and email address. You may also choose to get subscriptions and click continue.

estimator step 3

Wait for a couple of seconds and you see your best annual rate on the fourth screen with at least 15 quotes to compare. You may choose to give your phone number and unlock the rates and insurer details. An insurance advisor may contact you as per your choice or you may follow up to finish your car insurance shopping. It’s that simple!

Tips

  • Collect all your information and be ready: You may need to gather all the relevant information for your car insurance ahead of time. It may not be time savvy if you are scrambling around for paperwork while using the car insurance calculator. So, keep your driving license, claims record, insurance details, other drivers, and vehicle information handy.
  • Know how much insurance you need: When you are pretty confident about how much coverage is adequate for you then choosing limits is a breeze. This helps you to tweak other factors to check how it affects your rates. This also applies to how much deductible amount you may afford.
  • Don’t focus on just the price: Apart from the lowest quote, you may also want to see if other factors are comparable. Price is not the only factor to consider a quote and you must ensure that you have sufficient coverage and policy limits.

Details on What Affects Your Car Insurance Premiums

policy details

The level of coverage that you choose, your policy limits, and deductibles are some of the primary variables that sway your rates. There are other important factors as below too:

Driving History and Record

Your insurance company may assume the risk for your vehicle in the event of an accident. Hence they have a good look at the likelihood of a big claim. It will let them gauge the odds if you have past accidents on your driving record. A higher occurrence of accidents would put you in a high-risk zone. Apart from collisions, any traffic violations and criminal convictions could drive your rates up. If you have a spotless record you get good rates.

Demographics

If you are a responsible mature driver who steers clear of accidents then it will impress your insurer. They look at your gender, age, and marital status; as per certain claims data, female drivers are safer than males. A driver who is less than 24 years may expect higher rates than someone who is older with a good driving habit.

Location

Whether you live in a remote area or in a busy city, your insurer may look at it from a risk perspective. A high theft rate, burglary, or break-ins in your locality are going to put you in a high-risk category. So, even in the same province, different cities may have a variable rate as per the risk rating of the postal code.

Type of vehicle

The make, type of model, and age of your car matter a lot when it comes to insurance rates. The CLEAR rating of your car will also show the theft risk to your insurer. They rank your car as per the likelihood of someone stealing it in the near future.

Vehicle Value

Your insurer has to consider the cost to replace or repair as the higher the vehicle value the more the risk. At the same time, a relatively cheap car may have a high insurance rate due to a bad CLEAR rating. This means that it is more prone to theft or accidents.

Purpose

If you commute to work, for business purposes, or just for your pleasure it will all matter to your insurer. The average yearly mileage on your car and your driving times can affect rates too. So, the more time you or other listed drivers spend behind the wheel, the more opportunities exist for a collision or violation as per your insurer. They consider that when a car is on the road often then there is more risk for accidents.

Claims & Insurance History

In case you have never ever made an auto claim then you get plus points for that. Insurers also consider that drivers with continuous coverage without gaps are less likely to cause an accident.

Provincial Regulations

Provinces and Canadian territories do vary in regulations for calculating car insurance rates. Especially, for Ontario since private insurers set the rates a lot depends on their discretion. The FSCO strictly regulates and approves fair rates so that insurers do not inflate prices beyond reason. Each insurer has its own formula and rates differ as per various criteria.

What Information Do I Need To Provide To Use The Auto Insurance Calculator

Each quote is very specific to the details input by you in the calculator. In order to calculate your car insurance premiums using the auto insurance calculator, you may need the following information.

  • Location: Your postal code holds a lot of weight when calculating insurance rates.
  • Driver License: The driving license will show your experience and personal information.
  • Vehicle Profile: The value, make, type, age, and model of your car will change rates.
  • Claims history: If you had any past claims that may increase your rates.
  • Violations or tickets: These would also negatively affect your rates.
  • The level of coverage and deductible amount: The type of coverage and deductibles would change premiums. Higher deductibles would lower your premiums.
  • Any optional coverage or endorsements: This is an additional cost for getting more protection and customized coverage.
  • Discounts or professional associations: If you are a member of a professional association or armed forces, you may get a discount.

How Much Car Insurance Do I Need Ontario

Woman Question Mark

In Ontario, as per FSCO, it is mandatory to have active car insurance if you own a vehicle to drive on the roads. You must carry third party liability up to a minimum of $200000 and this covers property damage as well as bodily injury.  Other mandatory coverage includes Direct Compensation Property Damage, Statutory Accident Benefits coverage, and Uninsured Automobile Coverage. Apart from these you may purchase additional coverage for more protection and increase your policy limits. Ontario has a no-fault insurance basis so if someone damages your car you may file a claim with your insurer. The other driver could claim from their insurer.

How To Choose Your Deductible

Though it is the easiest and quickest method to lower your premiums, a high car insurance deductible may not be for everyone. If you live on month to month paycheck with no substantial savings then choosing a $2000 deductible may not work. Sure it could save your premiums but at claim time you may not be able to afford it. A benefit of choosing a high deductible is that you drive more responsibly and do not claim often. You may pocket the repair expenses of $500 rather than pay a $1000 deductible and thus have fewer claims.  The best way to choose your deductible would be to select one that you can afford and also reduces your premiums.

What Are The Benefits Of Using A Car Insurance Calculator

calculating money savings

  • Fill out your vehicle, personal, and claims information only once and you can calculate the rates from dozens of insurance companies.
  • The online website will take up the information that you fill out and shop on your behalf. Compare and benefit from the variety of options so that you are under no pressure.
  • They have many insurance companies on their board and negotiate your rates.
  • You may save time, money, and a lot of effort while choosing your best insurance option. The seamless and convenient online process helps you to take a good decision.
  • When you use the car insurance calculator you are aware of the factors that affect your rates and how to drive them down in the future.
  • Most importantly it is a FREE car insurance calculator tool, you have nothing to lose.

Some Common Myths About Car Insurance Quote Calculation

insurance calculated

There are many myths that you may believe could affect your car insurance rates and the following list may surprise you.

When you get a speeding ticket that may increase your insurance rates

This is not true for the first time but if you get into a habit of convictions in a short time then it may raise your rates.

Parking tickets can increase your insurance rates

Your parking tickets may not increase your rates but if you have always ignored then it may. When you have many unpaid parking tickets, it may all add up and could trouble you when you renew your license or permit.

Silver or a red car may cost more to insure than a black car

Insurance companies do not care about the color of your car but definitely look at your vehicle profile.

You may pay more for a 2 door car than 4- door cars

This is not true as insurers consider other factors about your vehicle but the number of car doors is not primary.

Luxury cars cost more to insure than economy cars

It is not necessary that economy cars may cost less to insure but it depends on other factors too. If your luxury car has better theft deterrent systems, safety devices, crash avoidance technology, etc. then that car may get a good insurance rate too.

Telematics devices may increase your insurance rates

Some insurers in certain provinces such as Ontario and Quebec may give you a discount when you fix a telematics device in your car. However, if you have bad driving habits your insurer may not increase your rates as per regulations.

All companies may calculate the same rates for you and your car

No two insurance companies follow the same formula to calculate your premiums. Everyone has their own secret recipe and your unique information affects the way your premiums shape up.

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